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Brisa Bridgestone Sabanci Lastik profit beats consensusin Q4

Brisa Bridgestone Sabanci Lastik Sanayi ve Ticaret AS said its normalized net income for the fourth quarter came to 28 kurus per share, compared with the S&P Capital IQ consensus estimate of 12 kurus per share.

EPS increased 48.3% year over year from 19 kurus.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 54.9 million lira, an increase of 39.9% from 39.2 million lira in the year-earlier period.

The normalized profit margin climbed to 11.3% from 8.1% in the year-earlier period.

Total revenue rose 7.9% on an annual basis to 519.4 million lira from 481.2 million lira, and total operating expenses increased from the prior-year period to 414.1 million lira from 408.7 million lira.

Reported net income rose 43.5% on an annual basis to 76.2 million lira, or 39 kurus per share, from 53.1 million lira, or 26 kurus per share.

For the year, the company's normalized net income totaled 41 kurus per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 53 kurus.

EPS declined 6.1% from 43 kurus in the prior year.

Normalized net income was 124.2 million lira, a decline of 6.1% from 132.3 million lira in the prior year.

Full-year total revenue grew 6.4% year over year to 1.80 billion lira from 1.69 billion lira, and total operating expenses rose 6.5% on an annual basis to 1.53 billion lira from 1.44 billion lira.

The company said reported net income grew on an annual basis to 192.2 million lira, or 63 kurus per share, in the full year, from 186.3 million lira, or 61 kurus per share.

As of Feb. 26, US$1 was equivalent to 2.96 Turkish lira.